CPEC to bring employment and peace in region: PM Nawaz

Nivian Malik 03:55 PM | 1 Sep, 2016
CPEC to bring employment and peace in region: PM Nawaz
ISLAMABAD - China-Pakistan Economic Corridor (CPEC) will help regional countries in reducing poverty and to bring in durable peace, Prime Minister Nawaz Sharif said while addressing the inaugural session of the two-day CPEC Summit and Expo.


The two-day CPEC Forum and Fair was successfully held in Islamabad at Pakistan Friendship Centre . Federal Minister of Planning and Development Ahsan Iqbal chaired the meeting.

The event was attended by Minister for Planning Ahsan Iqbal, Advisor to Prime Minister on Foreign Affairs Sartaj Aziz, Chairman Parliamentary Committee on CPEC Mushahidullah Khan, Chinese ambassador to Pakistan Sun Weidong and leading industrialists, ambassadors, businessmen.

The Summit held here at the Pakistan China Friendship Centre was hosted by Ministry of Planning, Development and Reform and marks the inking of historic $46bn CPEC project. It was inaugurated earlier in the day by the prime minister.

The summit and expo, which aim to enhance awareness about the ambitious project, will give the people of Pakistan and the world information and understanding about CPEC, the PM said.

The prime minister termed it a “new concept in diplomacy” and said it would help in elimination of poverty and unemployment.

Sharif said the project would erve as a “game-changer” not only for Pakistan, but also for the entire region by helping to reduce deprivation and bring peace and prosperity.

“CPEC is not only a strategic agreement between China and Pakistan, but it is also a precious testimony of friendship between the two countries for decades.”

Nawaz Sharif further said that the economic corridor will take strategic cooperation between the two countries to a new level. “CPEC itself will occupy a place in global affairs.”

The premier said CPEC was not merely a strategic agreement, but rather a culmination of a decade-long friendship between Pakistan and China. He said it was an advanced stage of relationship in the history of cooperation and collaboration between the two countries on issues of global importance.

The two sides never left each other in times of distress, Nawaz Sharif said while recalling Chinese assistance to Pakistan following the devastating earthquake in 2005 and floods in 2010.

He said during his visit to Pakistan, President Xi Jinping told the parliament that Pakistan stood by China when it was isolated. He said that it was time for China to return the favour when Pakistan stood economically isolated.

The Pakistani PM termed the relationship between the two countries as “very special” and said the two countries have always supported each other at international forums and that their relationship was based on basis of trust and honesty.

He termed CPEC as the most important initiative of 21st century and said it perfectly complements Pakistan's vision 2025.

Sharif said Pakistan was an emerging economy which was rich in natural resources. He mentioned that Pakistan was currently enjoying the highest GDP in the past eight years, with best performing stock market, doubling of the foreign exchange reserves and improvement of security environment.

He said the economic value of the project was $46 billion dollars, but the real impact was many times more and would have a longer lasting effect.

He said the project would not only improve Pakistan's own infrastructure but would also provide it the much needed knowhow, knowledge and expertise in new technologies. “$35b would be invested in energy sectors alone to produce 10400MW of electricity.”

"The project will benefit all regions of Pakistan equally including Gilgit Baltistan and remote areas of Khyber Pakhtunkhwa and Balochistan," said the PM.

He described development of Gwadar as the “jewel project” of the entire CPEC, with its own power generation, road, rail and air links and said it would serve as a "model smart port city".


Nivian Malik

The writer is a member of the staff


KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279.9 283.2
Euro EUR 300.98 301.58
UK Pound Sterling GBP 337.01 337.71
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 189 192
Bahrain Dinar BHD 712.72 720.69
Canadian Dollar CAD 200 202.2
China Yuan CNY 39.67 39.73
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.30

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,200 PKR 2,430
Karachi PKR 205,200 PKR 2,430
Islamabad PKR 205,200 PKR 2,430
Peshawar PKR 205,200 PKR 2,430
Quetta PKR 205,200 PKR 2,430
Sialkot PKR 205,200 PKR 2,430
Attock PKR 205,200 PKR 2,430
Gujranwala PKR 205,200 PKR 2,430
Jehlum PKR 205,200 PKR 2,430
Multan PKR 205,200 PKR 2,430
Bahawalpur PKR 205,200 PKR 2,430
Gujrat PKR 205,200 PKR 2,430
Nawabshah PKR 205,200 PKR 2,430
Chakwal PKR 205,200 PKR 2,430
Hyderabad PKR 205,200 PKR 2,430
Nowshehra PKR 205,200 PKR 2,430
Sargodha PKR 205,200 PKR 2,430
Faisalabad PKR 205,200 PKR 2,430
Mirpur PKR 205,200 PKR 2,430


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